Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of trends in the level of UK productivity between 2009 and 2019.

Labour productivity in the UK is just 2.4% above its pre-crisis peak. Productivity growth has slowed globally since the crisis but in the UK this slowdown has been more pronounced - across the G7 productivity growth has slowed from 1.9% per year in the decade to 2007 to just 0.8% since. In the UK, by comparison, it has fallen from 2.3% pre crisis to 0.3% since. To level up growth we will continue to invest responsibly including increased investment in infrastructure - connecting the country and businesses by road, rail and broadband and committing to our target of 2.4% of GDP being spend on R&D. We will also continue to invest in people – our greatest asset – levelling up skills and opportunity by creating a new national skills fund.